Building up credit, just turned 23.

QuestionsBuilding up credit, just turned 23.
asked 4 years ago

Hi! I’m looking to increase my credit from the low 600’s (Experian/592, Equifax/640, TU/642) up to 700 by this time next year. Is that possible? According to CK, my main issue was the high utilization $ 1500 limit on my Citi Freedom student and they have not increased it during the 2 years despite my tripled income and continued low expenses.


I just got approved for a $ 500 Chase Amazon rewards card, and $ 3500 at Capitol One (Quicksilver 1 and Platinum). My plan is to spread out my chargable expenses over all 4 cards, lower the utilization of the citi card from 90-99% down to at max $ 500, fully pay off the amazon after each purchase and have the remainining $ 1.000 I have in expenses charged on the 2 capitol 1 cards.  


I also have 3 total collections on my cr: 1 medical ($ 400)- working with the hospital to bill my insurance since I was fully covered, T-Mobile ($ 400 fully paid off via Diversified Consultants bc T-Mobile wouldn’t let me do a payment plan and some mysterious charge for $ 350 that I have no idea about. I know its a longshot but will be writing to Diversified to see if they might remove the charge, I’ve contacted the mystery charge for further clarification.


I am also working to save $ 1,000-1,500 a month and will be using that as collateral for a secured loan that will be placed in a CD account offered by my CU.


Will this be enough? Are there any other measures I should be taking? I’m hoping to study abroad in 3-4 years and will need student loans so looking to brush up my credit and keep it good before then.


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